Joint research by the Legal Services Board (LSB) and Solicitors Regulation Authority (SRA) has identified key trends in the professional indemnity insurance market. The research found that the average PII premium is now equivalent to 5% Read More
I have previously written about the SRA’s proposed closure of the Solicitors Indemnity Fund. The overwhelming response to the SRA’s consultation which ended in February 2022 was for the fund to remain open and Read More
Following consultation on the future of post six-year run-off cover, the Solicitors Regulation Authority (SRA) has announced that it will seek a further 12-month extension to the Solicitors Indemnity Fund (SIF) – to September 2023 – to enable Read More
Responding to consumer needs and a feeling that now is the time that the estate administration space is ready to embrace innovation were key topics discussed in our recent webinar. Tower Street Finance’s Dicky Read More
The Solicitors Regulation Authority (SRA) has decided to extend the Solicitors Indemnity Fund (SIF) by a further year in order to allow consultation on the future of post six-year run-off cover. The extension is subject Read More
It’s never too early to start thinking about applying for or renewing your professional indemnity insurance (PII). While the process of applying for or renewing PII is likely not your favourite thing to do, Read More
The Solicitors Regulation Authority (SRA) are calling for professionals in the legal sector to give their feedback on a clause which covers for cyber losses explicit in the minimum terms and conditions (MTC) of professional Read More
Legal Eye MD Paul Saunders talks to Howdens Executive Director Martin Ellis and Divisional Director Colin Taylor about the impact of the pandemic on Professional Indemnity Insurance for law firms. As firms prepare for renewal Read More
Firms have achieved so much in such a short space of time and now is the right time to ensure we are building businesses that are right for 2021 and beyond. Legal Eye has been collating Read More
DUAL Asset received a Missing Beneficiary claim last year where an elderly lady, living abroad decided to reconnect with her family back in the UK. They had lost touch many years ago. In turn, she Read More
As a result of the coronavirus pandemic, the closure of new claims to the Solicitors’ Indemnity Fund (SIF) has been postponed until 30 September 2021. Although, the postponement gives solicitors another 12 months breathing space. Simon Davis, President Read More
Recently, we published that the International Underwriting Association of London (IUA), the trade body with the responsibility for underwriting professional indemnity insurance (PII) have written an open letter of the industry warning them about their Read More
The International Underwriting Association of London (IUA), the trade body with the responsibility for underwriting professional indemnity insurance (PII) have written an open letter of the industry warning them about their PII renewals. In the Read More
The Law Society for England and Wales have sent out a rallying cry to the legal community, encouraging them to act now on their professional indemnity insurance (PII) renewal. Most firms still renew their PII Read More
With the next Professional Indemnity Insurance (PII) renewal date looming on the 1 October, here at Today’s Wills and Probate, we wanted to look at the current market conditions and renewal issues, so solicitors are Read More
Despite some firms struggling to renew their PII in March, experts are assuring the sector that there are deals to be done, but firms must prepare. The spread of Covid-19 in the UK coincided with Read More
Sometimes, as in life generally, you need to dig a bit deeper in order to discover the truth. This was certainly true of a Scottish claim, which the DUAL Asset team recently settled. The policy Read More
The second largest global insurance broker, Aon, announced their partial withdrawal from the Professional Indemnity Insurance (PII) market this summer leading many to speculate on the future of the insurance market for solicitors. Aon’s Read More
Firms who maintain a claims-free record may be able to benefit from a financial rebate provided it meets certain conditions. New professional indemnity insurer New Eden is claiming to be the first to offer firms “Read More
Distinctively placed, DevAssist have created the only reports of their type in the country which audits sites for development risks and opportunities.Read More
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